Germany's Scholz: German growth to be stronger than forecast

Eren Sengezer FXStreet

Germany’s Finance Minister Olaf Scholz said on Wednesday that he expects the German economic growth to be stronger than forecast this year.

"We have a reason for optimism, the upswing is underway," Scholz added but also noted that the impact of the pandemic will be felt well into next year.

Market reaction

These comments failed to help the market mood improve. As of writing, Germany's DAX Index was down 0.65% on a daily basis at 15,538. Meanwhile, the EUR/USD pair is staying flat on the day at 1.1940.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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